Prosperity Bancshares Now Covered by Portales Partners (PB)
Equities research analysts at Portales Partners initiated coverage on shares of Prosperity Bancshares (NYSE:PB) in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “sector perform” rating on the stock.
PB has been the subject of a number of other recent research reports. Analysts at Deutsche Bank raised their price target on shares of Prosperity Bancshares from $62.00 to $66.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Prosperity Bancshares in a research note to investors on Monday, December 30th. They now have a $66.00 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods downgraded shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, October 24th. Thirteen analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of $60.88.
Shares of Prosperity Bancshares (NYSE:PB) traded up 0.55% on Thursday, hitting $62.56. 52,997 shares of the company’s stock traded hands. Prosperity Bancshares has a 52-week low of $44.12 and a 52-week high of $65.49. The stock’s 50-day moving average is $62.91 and its 200-day moving average is $60.90. The company has a market cap of $4.126 billion and a P/E ratio of 17.65.
Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.91 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.90 by $0.01. During the same quarter last year, the company posted $0.82 earnings per share. On average, analysts predict that Prosperity Bancshares will post $3.58 earnings per share for the current fiscal year.
In other Prosperity Bancshares news, Director W.R. Collier sold 10,000 shares of Prosperity Bancshares stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $63.30, for a total value of $633,000.00. Following the completion of the transaction, the director now directly owns 234,542 shares of the company’s stock, valued at approximately $14,846,509. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Prosperity Bancshares, Inc, incorporated on December 22, 1983, is a financial holding company. The Company operates through its bank subsidiary, Prosperity Bank (NYSE:PB).
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